Iron ore hits a 3-month low

Photo: Scott Barbour/ Getty Images.

Iron ore spot markets stirred for the first time in four sessions on Thursday, falling modestly in thin, holiday-impacted trade.

According to Metal Bulletin, the price for benchmark 62% fines fell 0.9% to $61.48 a tonne, leaving it at the lowest level since June 27.

From the recent high of $79.93 a tonne struck on August 21, it’s now fallen 23.1%.

Movements across other grades ranged from small to non-existent.

Trade was predictably quiet with Chinese market participants still off enjoying Golden Week holidays.

That will likely remain the case until next week when Chinese markets resume normal operation.

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